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20130110
20130110
Search Results 0 to 10 of about 11 (some duplicates have been removed)
.s. reaching its borrowing limit, the debt ceiling. some republicans complained that lew has been too unyielding in past fiscal negotiations. a big news regarding the new mortgage rosebay propose apparently stemmed died near practices signature for weeks. >> you can't do wilodle >> the consumer financial protection bureau has rolled out new rules designed to ensure that mortgage borrowers could afford to repay the loans they take out. according to the rules, which take effect next year lenders will be required to verify it is bad borrowers financial records. no more no doc loans. they will be prohibited from selling girls with loan payments telling more than 43 percent of the person's annual gross income. it is only loans that helped inflate the housing bubble will be banned. >> there iwill be right back. [ womanom ] thi tis mis this iss my tey i feelfe more orinspirsp. . more preositivit [ male alennouncou ] o ]y liyn on adds fre fsh-pre-ped ted les to its itnew grw t tat ing inen drink nnkew lip ln and you y'll bel urprured ed how gre gat you yeel.ee ♪♪ ♪ >> 6:16 a.m. is
. in that we are not talking about what the debt ceiling is. the debt ceiling is essentially -- limit on what the united states can borrow but only to pay what congress has already -- enacted, budgets have already gone through congress and appropriations. it is not authorizing new spending by the president. essentially we should be talking about what it is and why it needs to be raised and telling people we are not spending new money with raising the debt ceiling. congress already passed the bills, social security, military, stuff we spend money on. hit the debt limit without raising and cannot pay that stuff. prioritizing payments and pay 40% of what the government has to pay. lot of people will not get social security checks. that's what the debt ceiling is about. >> the politics of this, should -- you know, should republicans give up the debt ceiling? power of the debt reeling? there has been suggestion go get something big for it and -- permanent. >> that's my view on it. we immediate to find a way that will is a win-win for everybody on this. my peeling has been like -- you know, let's d
limit the debt ceiling. >> some republicans complained that he has been too unyielding in past this of negotiations. >> and big news regarding new mortgage rules being proposed james has more on that in a moment with more the consumer physical protection burn as rolled out new roles designed to ensure that mortgage borrowers can afford to repay the loans they take out. >> according to the rules, which take effect next year, lenders will be required to verify and inspect our financial records so and no more no doc loans out there. there will be prohibited from saddling world loan payments totaling more than 42 percent of the person's annual gross income. >> an interest only loans that helped inflate the housing bubble will be banned. >> still ahead on the kron 4 morning news a change that will light up the bay bridge get its first test run today. will have more on the bay lights project straight ahead >> welcome back to the kron 4 morning news. new this morning the bay bridge will light up today with its for sequence test of the all new ltv lights. >> test will run through janua
leaders of this country who are saying, you have to raise that debt ceiling. >> a little hypocritical. these business leaders of the same ones to say we have to do something about our enormous debt, and what will cause a wire to our nation's finances continuing to go around borrowing a trillion dollars year after year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents a default on the national debt. revenues come in even after we pass -- you know, past the date which we have not passed the debt ceiling. what it means is it is more like a government shut down, not a default on debt. and shame on the media and people. gerri: there are other things that are bad that may happen like a sell-off in the stock market. the last time we tested this result of 2,000 points in the stock market, and i think that is what they are reacting to. they don't want to see that happen again, and they don't want to see executive to five executives across the country tie up the purse strings. i think they have pract
this debt ceiling business started, basically in 1917. what it was to give some more ease to the white house to borrow money, it was not to give the white house a blank open credit card. and so, now though, the president says doesn't matter about this 1917 law, i'm just going to do it because the constitution says i can? >> well, he can try to do that. i think it would be a disaster on a number of fronts. president obama's strengths is when the congress is saying no and they're involved in some kind of a fight and he's saying, let's do the right thing. for the president now to step in and create a proposal that goes back 150 years and to say something no president has ever said, that the president of the united states can unilaterally create debt, i think would be taking a pretty big burden and would isolate him pretty rapidly and people around the world would say, wait a second, what if i buy obama bonds and then it turns out they're illegal. i mean, he would be entering into the marketplace, a level of uncertainty that would be pretty remarkable. >> greta: do you think it's sort of saber r
with you. the president will go around congress. if he can't get a debt ceiling, raise the debt ceiling i think he will invoke the fourteenth amendment which says the debt must be paid, he will go around congress, invoke the fourteenth amendment and say keep on spending, keep on borrowing. >> he may very well do that but that is because the republicans refuse to define the issue. instead they are defending the issue. when the conservatives or the republicans are not defining they are losing. the republicans have a chance to take the cbo numbers and define the issue and put it back on barack obama. if they do not do that then barack obama wins the day and america loses. stuart: that is exactly what is going to happen. i am sorry we are out of time. thanks for joining us and i am sure you will be waiting eagerly for governor brown's budget to be released later today. >> thank you for that. stuart: mike reagan, thanks very much. stock early on entitlements. my take on food stamps and children is next. >> announcer: you never know when, but thieves can steal your identity and turn your life u
wouldn't be borrowing anymore, so you wouldn't need to raise the debt ceiling anymore. [laughter] and then perhaps maybe as your debt, you start to pay it off as more and more of those cuts kick in, perhaps you could reduce the debt ceiling and increase spending every time you reduce the debt ceiling. i don't know. but, yeah, it is kind of a bizarre scenario. but, you know, democrats have said that revenues are going to be on the table as part of their negotiating position. so it's not a given that if they try to do all of in the that all two trillion would come from spending cuts. some of that could come from additional revenues as well. >> how confident are you of if sequestration happens and it's 475.2, um, for fy-14 that congress would heed that amount? i mean, congress didn't stick with the budget control act cap, so are we going to a year later looking at adjustments because congress exceeded that cap? >> yeah. these budget deals historically don't tend to stick around unaltered for very long. so, yeah, i wouldn't read too much into the ten-year projections out of these thi
Search Results 0 to 10 of about 11 (some duplicates have been removed)